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10 Steps to Improve Your Property’s Tenant Retention

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After choosing the right property, tenant retention is arguably the most important factor for a rental property’s success. Higher tenant retention means you’ll see more consistent revenue, you’ll spend less time looking for new tenants, and you’ll suffer far fewer losses from vacancies and turnover.

However, improving tenant retention isn’t always straightforward. If you want to maximize retention, you’ll need to think critically about your approach.

How to Improve Tenant Retention

These are some of your most valuable strategies in improving tenant retention:

  1. Find the right tenants. One of your best strategies will be finding the right tenants for your property in the first place. Tenants often leave because they’re a bad fit, in one way or another. They may only be looking for a short-term space to live, or they may not have a stable job they can rely on to pay for rent. Invest in a thorough, proactive tenant screening practice so you can secure the best candidates for your rental properties. It takes a bit more time to get someone in, but it will be worth it in the long run.
  2. Build tenant relationships. Next, go out of your way to build relationships with your tenants. You don’t have to be close friends with every person you bring into your property—in fact, friendships can get in the way of the tenant-landlord relationship. However, you should be on amicable terms. Get to know your tenants, including their goals and long-term prospects, and make sure they’re comfortable reaching out to talk to you. If tenants like their landlord, they’ll be far less likely to leave.
  3. Keep rent reasonable. Depending on where you live, it’s probably legal to incrementally increase rent prices every year. But this isn’t always the best move, even if it increases your cash flow. It’s important to keep your rent prices in line with other properties in the area; otherwise, your tenants will simply leave. Increase prices gradually and periodically.
  4. Be flexible (when possible). Try to give your tenants extra flexibility whenever you can. For example, if a tenant is late on rent payment because they’re having an issue with their employer, consider giving them another couple of weeks to come up with the money—with no penalty. Be forgiving if they make a mistake, or accidentally damage the property. This leniency can go a long way in securing their loyalty.
  5. Take care of requests immediately. Similarly, it’s important to take care of reasonable tenant requests right away. If a tenant complains about a leaking roof or a malfunctioning appliance, send a technician or visit the property right away. Fast fixes lead to happy tenants—and happy tenants tend to stick around.
  6. Be responsive. There will be times when you can’t fix an issue right away. This is okay, but you still have to be as responsive as possible. Let your tenants know that you’ve heard their requests, and that you intend to take action on them. If you can’t get to a fix right away, let them know why and tell them when they can expect a fix. This proactive communication is vital for tenant satisfaction.
  7. Respect privacy. Try to respect your tenants’ privacy. Don’t show up unannounced, and don’t enter their apartment without permission or awareness (even if it’s legal to do so in your area). Give tenants the feeling that this is their space and make them feel comfortable.
  8. Listen to feedback. Occasionally, you’ll get direct feedback from tenants. They may complain about the way you manage the property or give you compliments about the way you handled a specific issue. Listen to these pieces of feedback and learn from them. They could provide straightforward direction on how you can be a better property manager, or how you can make other tenants happy in the future.
  9. Invest in periodic upgrades. Most landlords want to keep upgrading the property with new appliances, nicer fixtures, and other quality of life improvements. Try to make these upgrades while the tenant is occupied (if you can), so the tenant can benefit directly from them. It makes tenants feel like you genuinely care about their quality of life. It will incentivize them to stick around.
  10. Reward loyalty. Finally, reward tenant loyalty however you can. That could mean giving tenants occasional discounts or sending them a Christmas card in the mail. Even small gestures can go a long way in boosting retention.

Perfecting Your Strategy

Maximizing tenant retention isn’t something you can handle overnight. If you want to see the best results, you’ll need to adjust your strategy gradually, over time. Listen carefully to feedback from your tenants and be flexible enough to keep adapting your long-term approach.

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

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Lifestyle

The Role of Medicine in Achieving and Sustaining a Healthy Body Mass

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The CDC’s latest numbers classify approximately 42 percent of Americans as obese, and over two-thirds of American adults qualify as either obese or overweight. Living with excess weight heightens people’s risk for debilitating and chronic but otherwise preventable conditions like stroke, type 2 diabetes, heart disease, and certain cancers.

With new weight-loss drugs like Ozempic and Wegovy on the rise, many are wondering if these medications live up to their hype and can even help end the obesity epidemic. Sergio Padron, founder and CEO of online healthcare and weight-loss support company MD Exam, believes they can — up to a point.

“It’s important to approach these medications with a thorough understanding of what they can and can’t do,” Padron says. “Magic pills for weight loss don’t exist.”

The importance of achieving a healthy body mass

According to Padron, achieving and sustaining a healthy body mass is key to good health. To obtain your body mass index (BMI), online calculators like this one from the National Heart, Lung, and Blood Institute ask for your height and weight, run them through the standard formula, and generate your score. The last step is to find this number in the standardized ranges considered underweight, normal weight, overweight, or obese.

“Many healthcare professionals use the body mass index (BMI) for a quick approximation of most people’s health,” he explains. “All you need is the patient’s weight and height, and you can calculate this number.”

There are exceptions, however. “In particular, bodybuilders and other athletes can generate results that make it seem like they aren’t healthy, when in fact they’re in excellent condition,” Padron explains. “That’s because BMI doesn’t consider muscle mass, and muscle is more dense than fat. In addition, BMI doesn’t account for visceral fat being more dangerous than fat deposits elsewhere in the body.”

That’s why Padron cautions people not to make snap judgments based on BMI alone and to seek a more comprehensive view from healthcare professionals. “Factors like body composition, blood markers, and lifestyle need to be considered,” he explains, “which is one of the many reasons why we only offer individualized care at MD Exam.”

If your BMI falls in the overweight or obese categories, then it’s time to make a change. “Unfortunately, excess body weight means you could be developing major health problems that you otherwise wouldn’t,” Padron says. “Being overweight has also been associated with depression. In my experience, it can have a negative impact on self-esteem and even lead to the development of eating disorders.”

Luckily, groundbreaking new drugs have become available to help people recover their quality of life.

How Ozempic and Wegovy can help

According to Padron, pharmaceutical solutions like Ozempic and Wegovy can help most people achieve and sustain a healthy body mass. These medications reduce appetite and increase feelings of fullness, thereby enabling people to regulate their consumption better.

“One of the most important things our patients report is that they’re no longer tormented by cravings,” Padron says. “They find it easier to avoid overeating in the first place.”

In addition, Ozempic and Wegovy have been shown to decrease visceral fat — the dangerous kind of fat deposits. “The idea is to optimize health and well-being, not just lose weight,” Padron says. “We want to make sure you lose the right pounds. When you lose visceral fat and keep muscle, you are heading in the right direction and your body composition improves.”

In some rare cases, however, Ozempic and Wegovy aren’t effective. “Luckily, other interventions can be effective in those cases, such as Tirzepatide or classic weight-loss drugs,” Padron says.

Yet Padron emphasizes that weight-loss drugs alone are insufficient to achieve and sustain a healthy body mass.

Personalized, comprehensive support

“Just taking a pill won’t make pounds disappear,” Padron says. “To lose weight, it’s necessary to get real about your lifestyle and actually change your habits. If you haven’t been exercising, for instance, then it’s time to start getting up a little earlier and going for a morning walk. If you haven’t been eating well, then it’s time to stop buying soda and junk food.”

Easier said than done? “We know it’s hard,” Padron says. “That’s why our program takes support seriously. Our medical staff works with patients one-on-one to develop treatment plans that will work for them. We also provide coaching and connect patients to each other for mutual support and accountability. MD Exam is a community. People make friends for life on our platform.”

Lose weight, feel great

Obtaining a healthy body mass often leads to increased energy levels, improved mobility, and reduced joint pain. It can also help control chronic conditions like high blood pressure and sleep apnea, as well as forestall the development of preventable diseases. If that isn’t already enough, it can also boost patients’ self-confidence and mental health.

“Our patients experience an incredible feeling of accomplishment and empowerment,” Padron says. “Losing weight can be truly transformative. I can’t tell you how many people have told me their whole outlook on life has become more positive.”

For Padron, helping people lose weight is its own reward. “I love watching people shed their depression and come back to life,” he says. “This is the most rewarding work I can imagine.”

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